Merchant Account business Heats Up!
Two bits of news popped up recently that’s worth putting on your radar:
1. PayPal has just started offering a more traditional Merchant Account processing solution called “Website Payments Pro“. For $20 bucks a month you’ll get an integrated Payment Gateway that can process transactions seamlessly and you will no longer have to send your customers and clients to an external PayPal payment page.
This is going to be big for PayPal, and it will take a down a wall that has kept many business from using their service as a Primary Payment Processing Solution. I’m looking forward to learning some more about it and taking it for a spin.
2. Hot on their tail, is Google. More news is leaking out that Google will soon be launching an online payment system that looks to directly compete with PayPal.
This will be big for Google, because honestly…. what isn’t?
You see, eBay bought PayPal a couple of years ago, and PayPal accounted for 23% of eBay’s revenue the first quarter. ($233 million)
ALOT of eBay users buy Google Ads that appear next to search results.
So you have a group of customers for PayPal, eBay and Google that are already a pretty tight knit family. But when it comes down to it, somebody’s gotta get the business. So I smell competition brewing, which ultimately works out well for you and I, the consumer….
Cause’ we end up with the best prices 
